Puxin Limited (NYSE:NEW) Q2 2020 Earnings Conference Call - Final Transcript

Aug 24, 2020 • 08:00 am ET


Puxin Limited (NYSE:NEW) Q2 2020 Earnings Conference Call - Final Transcript


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Good day, and welcome to the Puxin Limited Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Nadia Wang [Phonetic], Senior Investor Relations Manager, please go ahead.

Nadia Wang

Thank you, Anita. Hello everyone. Welcome to Puxin's second quarter 2020 earnings conference call. This is Celsi [Phonetic] Wang, Senior Investor Relations Manager at Puxin Limited. We appreciate your time and ongoing interest in Puxin. Our financial results were released earlier today and are available on the Company's IR website at ir.pxjy.com.

On the call today, we have Mr. Yunlong Sha, the Company's Founder, Chairman and Chief Executive Officer and Mr. Peng Wang, the Company's Chief Financial Officer.

Yunlong will give a quick introduction of the Company's business operations and highlights, followed by Peng, who will go through the financials and guidance. They will both be available to answer your questions during the Q&A session that follows.

Please be reminded that this call may contain forward-looking statements made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and current operating conditions and relate to events that involve unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements.

A number of information regarding these risks, uncertainties and other factors are included in our public filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except by required law.

With that, I will now turn the call over to Mr. Sha. Mr. Sha will give his remarks in Chinese and Jessie Jin from ICA, our Investor Relations Advisory Firm will translate it for him in English.

Mr. Sha, please go ahead.

Yunlong Sha

[Foreign Speech]

Jessie Jin

Ladies and gentlemen, good evening, and good morning to you all. Thank you for joining Puxin Limited Second Quarter 2020 earnings conference call. Together, the teaching staff and students have overcome the challenges brought by the COVID-19 pandemic over the past few months. Under the guidance of the Ministry of Education and the National Health Commission, local governments have coordinated with schools and universities to resume classes and we are glad to see the entire education industry is finally back on track.

Again, we appreciate the contribution of government departments, all sectors of the community, as well as the staff at Puxin. Thank you for providing your continuous social, mental, and educational support.

In the second quarter of 2020, though there were a few bounce back occurrences of COVID-19 in some areas of China, Puxin continued to place the mental and physical health of our students and teaching staff to our first priority. We have had zero COVID-19 case and we'll work our